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Ranbaxy recalls Atorvastatin drug in U.S.
The Company has recalled its Atorvastatin drug from the USA market which is likely to cause some temporary disruption to the market of this product. The investigation of same is said to take a time of 2 weeks after which the company expects to resume supplies.
Cipla to buy stake of South Africa's Cipla Medpro
Cipla Limited would like to inform you that the company is in preliminary discussions and has made an indicative proposal in relation to the acquisition of an approximately 51% equity stake in Cipla Medpro South Africa Limited (Cipla Medpro) a company incorporated in the Republic of South Africa and listed on the JSE Limited for a price of ZAR 8.55 per share (payable ex the final dividend for the 2012 financial year, which will be capped at a maximum of ZAR 0.10 per share)
Based on Cipla Medpro's current shares outstanding and spot ZAR/$ exchange rates, total consideration payable by the Company would be approximately $220 mn (1) (exclusive of the anticipated dividend of up to ZAR 0.10 per share to be paid by Cipla Medpro to its shareholders for the 2012 financial year). The discussions are subject to various conditions, including finalization of due diligence, execution of definitive documentation, applicable board, regulatory and other approvals. At this stage, there is no certainty that these discussions will lead to a firm offer being made or a transaction being consummated.
Cipla Medpro is a distributor of the Company's products in South Africa and certain neighbouring countries. It is one of South Africa's fastest growing pharmaceutical companies and currently the third largest. It is a leading provider of chronic medicines to the public and private sectors, with particular strength within, inter alia, the cardiovascular, antiretroviral, respiratory and neuropsychiathc categories.
Amid global economic concerns, the Indian Pharma industry is bullish with a steep growth target. In the Pharma sector, India is one of the top five generic exporters of the world and maintains a positive trade balance, meeting over 90% of the country’s medicinal requirements, revealed Rajeev Kher, Additional Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India at South Asia’s largest pharmaceutical event, CPhI and P-MEC India in Mumbai on Wednesday.
Kher said, “Indian Pharma exports are headed for a very healthy growth in generic and API exports and efforts are on to improve the foot hold of traditional medicine exports. Pharma exports by the end of 2014-15 are expected to reach USD 25bn.
The Indian Pharma industry is also covering a lot of ground in bio pharmaceuticals at a rapid pace. Generic market segment is increasing worldwide faster than branded drug segment. The market size of drugs losing patent protection was USD 270bn in 2011 and is expected to go to USD 430bn by 2016. It is but natural to view Indian Pharma industry among the top in the next decade.” Read more…
Cash cuts increase smoking death risk for world’s poor
Proposed funding cuts within the international body responsible for tobacco control will leave the world’s poorest countries more vulnerable to smoking-related diseases, a study suggests.
As many as 80 countries from the developing world, such as Paraguay, Rwanda, and Kyrgyzstan, could effectively be excluded from the forum tasked with reducing global tobacco use should the cuts go ahead.
The World Health Organisation’s Framework Convention on Tobacco Control (FCTC) is considering cutting its funding for delegates from poorer countries to attend meetings.
Parties to the FCTC are currently meeting in Seoul, South Korea. The conference is the main forum for tackling smoking-related diseases and is attended by policy makers and health officials from around the world.
The changes to FCTC funding could leave mns in the developing world, where the number of smoking deaths is rising, exposed to unrestricted tobacco use and promotion. Read more…
Cipla appoints Subhanu Saxena as CEO
Cipla, one of India’s leading pharmaceutical companies, is delighted to announce the appointment of Subhanu Saxena as its Chief Executive Officer. Subhanu comes to Cipla with rich work experience of 25+ years, having worked with companies such as Citicorp, The Boston Consulting Group, and PepsiCo, across markets in Europe, North America, Africa and Asia.
In his last assignment he led the Global Product Strategy and Commercialization functions at Novartis Pharma AG. In this role, Subhanu was a part of the Global Pharma Executive Committee (USD 30 bn sales), with responsibility for marketing, sales, global medical affairs and health economics.
Subhanu will assume the position at Cipla Ltd. on February 1, 2013.
Subhanu has a graduate degree in Engineering from Oxford University and an MBA from INSEAD, France. Read more…
Panacea Biotec announces strategic alliance with Kremers Urban
Panacea Biotec, India's highly progressive research based health management company has entered into a strategic alliance with Kremers Urban Inc. (part of UCB Group) for 11 high barrier to entry generics, whose market size in US at the innovator level is around USD 4 bn.
The first product in this portfolio to reach the market is Tacrolimus Capsules that is being launched in US in Nov 2012. Panacea Biotec was granted approval of the product from the United States Food and Drug Administration (FDA) in September 2012. Tacrolimus is used along with other medications to prevent rejection (attack of a transplanted organ by the immune system of a person receiving the organ) in people who have received organ transplants. Tacrolimus is in a class of medications called immunosupressants. It works by decreasing the activity of the immune system to prevent it from attacking the transplanted organ.
The total market size of Tacrolimus is approximately USD 892 mn in US. Currently there are 5 generic players in US; namely Sandoz, Dr Reddy's, Mylan, Watson and Accord Healthcare. The innovator brand Prograf accounts for approximately 43% of Tacrolimus sales in terms of units sold and generics account for the remaining 57%. Read more…
Dr. Reddy's Laboratories announced today that it has launched Sildenafil Tablets (20 mg), a bioequivalent generic version of REVATIO (Sildenafil) Tablets in the US market on November16, 2012, following the approval by the United States Food & Drug Administration (USFDA) of Dr. Reddy's ANDA for Sildenafil Tablets.
The REVATIO brand had U.S. sales of approximately $338.67 Mn for the most recent twelve months ending September 2012 according to IMS Health.
Dr. Reddy's Sildenafil Tablets in 20 mg are available in 90 count bottle sizes.
Aurobindo Pharma appoints Arvind Vasudeva as CEO
Aurobindo Pharma Limited is pleased to announce the appointment of Arvind Vasudeva as Chief Executive Officer (Formulations) with effect from 22nd November, 2012.
Arvind Vasudeva is an M Pharm, Pharmaceutical Technology from Punjab University, Chandigarh and having almost three decades of experience in Formulations sales & marketing and business development. He brings close to 30 years of professional work experience primarily in pharma space, of which 15 years as Business Head / COO / CEO in leading Indian and global companies. He brings a strong business acumen and strategic thinking from his experience with several pharma companies.
Prior to joining Aurobindo, Arvind Vasudeva served as Chief Operating Officer at Glenmark Pharmaceuticals and was instrumental in the growth of the company. He also served as Managing Director of RPG Life Sciences, where he is credited in transforming the company into profitable operations. Prior to RPG Life Sciences, he served as President - Indian operations as well as Japan and ROW markets in Wockhardt. Read more…
GVK BIO establishes largest Isotope Labeling facility in India
GVK Biosciences, Asia’s leading Drug Discovery Research& Development organization, has received approvals from the Atomic Energy Regulatory Board (AERB), Government of India, to carry out 3H and 14C synthesis activities.
This GLP compliant facility has state-of-the-art equipment to cater to the requirements of companies engaged in the fields of Drug Discovery and Development, Agro and Veterinary Chemicals, Cosmetics, Perfumery and Specialty Studies.
Speaking of this development, Manni Kantipudi, CEO, GVK BIO, said, “Several of our customers requested us to extend our chemistry services to include isotope labeling services. We listened to our customers and setup this state-of-the art facility which is the largest such facility in India. The facility has received all statutory approvals from the Atomic Energy Review Board of India.”
If it is any indication of India’s growing importance in the global pharmaceutical industry, a record 926 exhibitors from 21 countries will meet under the single roof of CPhI/P-MEC /ICSE/Bio-Ph India trade exhibition, South Asia’s largest pharmaceutical extravaganza. The event runs from 21 to 23 November, providing an efficient platform for global pharmaceutical buyers to indentify business opportunities and meet with potential partners.
Visitors from 118 countries across the globe are pre-registered for the 3 day exhibition, which will be held in 7 exhibition halls spread over 55,000 sq. mtrs. at Bombay Exhibition Centre, Goregaon. Rajeev Kher, Additional Secretary, Department of Commerce, Ministry of Commerce and Industry, will be the Guest of Honor at the inaugural session which is to be held on November 21. P-MEC India will expand with 45 new exhibiting companies and several new features are making their debut this year at CPhI and P-MEC India.
A series of Technical Seminars presented by exhibitors will run throughout the event. A CEO conclave with a panel discussion will be held at the Westin Hotel, Goregaon, followed by the unveiling of the first CPhI India Pharma Awards. Read more…
The Indian Medical Association of New England (IMANE) held its 34th Annual Meeting on Nov. 17 at the Taj Boston hotel in Boston, electing a new slate of officers including the election of Dr. Manju Sheth as the group’s 2013 president.
IMANE, a dynamic organization for medical professionals of Indian origin in New England, also elected its 2014 President-elect Dr. Sajani Shah. Also confirmed at the meeting was the group’s 2013 Executive Committee, including Dr. Seema Arora as secretary and Dr. Sapna Aggarwal as treasurer.
Dr. Sheth, Dr. Arora and Dr. Aggarwal, along with 2012 President Dr. Sucheta Doshi and five members at large will form IMANE’s Executive Committee in the coming year. The members at large include Dr. Srilatha Kodali, Dr. Anita Vanka, Dr. Suresh Reddy, Dr. Subha Thiagarajan and Dr. Sameer Kapasi. Read more…
India Ratings rates Aurobindo Pharma’s additional Bank loans
India Ratings-Chennai-19 November 2012: India Ratings has assigned the following ratings to Aurobindo Pharma Limited's (Aurobindo) additional bank loans:
INR3.7bn interchangeable fund-based limits: ‘IND AA-’/‘IND A1+’
IND4.1bn interchangeable fund and non-fund based limits: ‘IND AA-’/‘IND A1+’
IND1.6bn non-fund-based limits: ‘IND A1+’
Aurobindo's outstanding ratings (including the above) are as follows:
Rs19.3bn interchangeable fund-based limits (increased from IND15.6bn): ‘IND AA-’/‘IND A1+’
IND16.5bn interchangeable fund and non-fund based limits (increased from IND11.4bn): ‘IND AA-’/‘IND A1+’
IND11.6bn non-fund-based limits (increased from IND10.0bn): ‘IND A1+’
IND1.1bn term loans (reduced from IND4.6bn): ‘IND AA-’
Senior representatives from the University of Strathclyde, Glasgow, Scotland, are visiting India this week as the University builds on its collaborative work with a prosthetics and orthotics clinic in the Chennai district.
The Mukti Clinic has been providing artificial limbs free of charge for the last 27 years and the University has recently developed a working relationship to help further its work in the community.
Lady Eileen McDonald, University of Strathclyde Ambassador for Mukti, is leading a delegation to visit the clinic and will meet some of the patients who have benefited from the work being carried out.
During the visit, the delegation from the University will meet staff at the clinic and spend time with three of the younger patients who have benefited from the innovative techniques being used. Read more…
A new quarter-mile long Active Living Trail with multiple fitness stations now encircles Little Nancy Creek Park, providing positive exercise and health options for the entire community. The Active Living Trail and fitness stations, made possible by the financial support from UnitedHealthcare’s advertising through CBS EcoMedia’s Wellness Ad program, features messaging for families and visitors to learn easy ways to incorporate healthy behaviors into their lives courtesy of Children’s Healthcare of Atlanta's Strong4Life movement to fight childhood obesity.
A ribbon-cutting celebration was hosted by Howard Shook, District 7 Atlanta Councilmember, Linda Matzigkeit, Chief Administrative Officer, Children's Healthcare of Atlanta, Mark Stovin, President, Friends of Little Nancy Creek Park, Rick Elliott CEO, Georgia, UnitedHealthcare Employer & Individual, and Paul Polizzotto, President and Founder, CBS EcoMedia Inc. The grand opening of the Active Living Trail was attended by special guests including members of the Atlanta Falcons, Chef Rusty Hamlin as well as dozens of UnitedHealthcare volunteers and members of the community who worked to clean and prepare the park for the debut of the new trail and fitness stations. Read more…
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.